They started buying in the summer, when the price was around $11 000. After that, the so-called MicroStrategy effect was launched, thanks to which other institutions began to actively invest in bitcoin. In the $10 000 region, strong support is formed, with which the institutional bull run began, and it is also the same 15% of the cost of the last Bitcoin ATH.
Microstrategy decleared its first purchase in August 2020 that he bought $250 million worth of Bitcoin.Who has any thoughts on all of this? Where is the current bottom of bitcoin and below what mark will we never see the price of bitcoin in the market?
Let us compare 2013 bull run to 2017 bull run1147÷ 177 = 6.48
19343 ÷ 3239 = 5.97x
(6.48 - 5.97 ÷ 2) + 5.97 = 5.715
Comparing it with the 2021 all-time-high
69000 ÷ 5.715 = 12073 in USD.
I should have predicted $12073 but adoption could probably change this, institutions are now more into Bitcoin investment. Also very possible as Bitcoin adoption increases, the volatility will be reducing.
If I will have to be sentimental about this, I will go for $20000, that Bitcoin price will not fall below $20000. If it falls below to like $19800, this could trigger bull run.
